30 Sep Deloitte publishes report on Fintech hubs
Deloitte in association with All Street Research has published a report titled Connecting Global Fintech: Hub Review 2016 that provides an overview of the Fintech firms emerging globally, with an analysis of local market facts, figures and future trends as well as an index performance score that determines the ease of growing a FinTech business in each hub. The report was released at SIBOS. The report builds on the initial analysis and research undertaken by both Innotribe for the 2015 edition of the SIBOS event, and by Innovate Finance for the Innovate Finance Global Summit (IFGS) 2016.
Innotribe and Innovate Finance have launched the Global Fintech Hubs Federation (GFHF) that brings together the established and emerging Fintech hubs globally to promote innovation and collaboration across the world’s financial services industry. The report provides insights on the 21 hubs operating worldwide and compares them on Index Performance Score which is based on three business indices – Global Financial Centre Index (GFCI), Doing Business (DB) and Global Innovation Index (GII). Lower Index Performance Score indicates that Hub is conducive for Fintech growth.
As per the report, Global fintech market is quickly evolving and Hubs in the ecosystem have matured in a short span of time. The top five emerging hubs with Index Performance Score of 25 or less are: London, Singapore, New York, Hong Kong, and Silicon Valley. Global Rankings are fluid and influenced by rapid changes in the industry as they do not capture the unique intricacies of the hubs. The reports also highlights that hub representatives identified innovation areas which are aimed at making financial services simpler and more accessible to end customer. The report also lists the challenges that are preventing the growth of fintech.
The report lists a brief profile of each of the 21 hubs with their Index Performance Score and Hub Indicators. Hub features related to technology, innovation areas and challenges along with top fintech companies in the location, list of big investors, success stories and the future trends are listed.
Full Report can be downloaded by clicking here.
